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20121203
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SFGTV
Dec 2, 2012 10:00pm PST
on the fiscal cliff and sequestration cuts that it includes. the impacts on san francisco could be devastating. until we have more clarity, what congress as a whole might or might not do we will need to remain vigilant about protecting our reserves and the city's financial position. that said i'm encouraged by the reelection of president obama and certainly for the leadership that leader pelosi has given and will continue to give. we will need their leadership as the president must quickly face the challenge of his second term, avoiding this fiscal cliff. in august of 2011 congress passed the budget control act which threatened automatic spending cuts if congress failed to come up with a planned deficit reduction by 2013. these cuts are what we refer to as sequestration. this would mean an across the board cut of between 7% and 10% of
MSNBC
Dec 3, 2012 6:00am PST
thing in the long run? going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do willingly, make dramatic changes in taxes and spending. if those changes happen automatically, the cbo estimates it would have a positive long-term impact. by comparison, it says current law is kept in place, output and income would
MSNBC
Dec 3, 2012 1:00pm PST
republicans just want to protect those at the very top even if it means going over the fiscal cliff. >> the president will host members of congress for a holiday reception tonight. i would love to be there. even as fiscal cliff tensions are very high. would you recommend someone perhaps spike the punch for republicans in order to break the impasse? >> well, look, i don't know what it will take. i'm not even sure that would do the trick, but, i mean, i think what they should consider with the president tonight is that they need to get this behind them. they are a party that is weaker politically than they were a month ago. they're a party that will be even weaker once the new year rolls around. they'll have a smaller majority in the house. they'll have a smaller minority in the senate. the president has very strong approval ratings right now, particularly for his approach to the fiscal cliff. they're going to be in a stronger political position if they reach an agreement with the president and put this behind them. then they can go on into the new year. they're not going to be strengthened by allowing us to go over the fiscal cliff an
CSPAN
Dec 3, 2012 2:55pm EST
. >> we look at some of the tax credits and deductions to expire as part of the fiscal cliff. >> as part of our series looking into the so-called fiscal cliff, we turn to deductions and tax loopholes. some are potentially on the chopping block as congress and the white house negotiate how to move forward. joining us is john mccain, thank you for being here this morning. what are loopholes and deductions? we hear those words a lot. >> loopholes are really in the eye of the beholder, tax breaks of all different sorts. and whether you like a particular loophole depends on where you said. deductions are the ones most people are most familiar with. the big itemized deductions are the home mortgage interest deduction. the deduction for charitable contributions is important. there are all kinds of other breaks. there are some that are big that people may not be aware of. the health care that we get a work represents a big source of income to a lot of people. it doesn't count as income on your taxes. that is a giant break in itself and known as an exemption. there are other breaks that exist. the earned income tax credit goes to the working poor. then folks with children get a child credit that is a lucrative credit, worth $1,000 per child right n
SFGTV2
Dec 3, 2012 8:00am PST
have concerns of other social safety net as our congress is on the fiscal cliff and we're all bracing for hopefully good things to happen, as they've been happening in our world class city. so, i want to again thank salvation army for helping us be the world class city that we are, giving ourselves the world class heart that we always have. so, happy thanksgiving, everybody, and let's get to these nude turkeys. [laughter] (applause) >> thank you very much, mr. mayor. and thank you so much for being here. you can carve while i do some more talking here. if you'll pay attention to the marvelous things they're doing with the turkey carving. we have 6,000 pounds of turkey here, believe it or not, 1400 pounds of green beans, 1600 pounds of yams. it's been cooking for 4-1/2 days around the clock back in that lovely little kitchen of ours. and all that work did not disrupt the usual activities, 360 meals, 400 sandwiches for homeless people. they're still baking the brownies cakes and cookies. 300 delivery routes, 500 volunteers, 6100 meals to seniors and shut-ins. the meal, roasted turkey wi
FOX Business
Dec 2, 2012 11:00pm EST
serious proposal. >> the president may have the upper hand because the fiscal cliff tops allow him to back the opposition into a corner by framing this as republicans raising taxes. >> if congress does nothing, every family in merica will see their income taxes automatically up on january 1st. that is sort of like a lump of coal you get for christmas. congressional democrats operating like they don't have to compromise on spending or taxes. >> elections have consequences. the president campaigned, made it very clear. made very clear that he was supporting tax cuts for the middle-class, that he wanted the expiration of the tax cuts for the high end. >> very little progress among the inside player so far, the president plans to keep pressuring republicans from the outside. meeting with the nation's governors on tuesday and then addressing the business roundtable on wednesday. lou: thank you. ed henry, fox news chief white house correspondent. joining me now, a pulitzer prize-winning journalist, campaign strategists, form reagan political director of, veteran democratic campaign strategists. we thank you all for being here. let's turn, if i may, to you. this is an impasse, a stal i'm g
MSNBC
Dec 3, 2012 2:00am PST
the fiscal cliff. that would allow tax rates to rise on everybody. then congress could come back after the new year and cut taxes on everyone but the wealthy. nbc's mike viqueira has the story. >> reporter: administration optimism for a deal. but only if republicans give in on raising rates for the wealthy. >> you think we'll get a deal by the end of the year? >> i do. the only thing that stands in the way of a deal right now is if a group of republican members decide they're going to block the deal because they want to extend tax cuts. we can't afford for the wealthiest 2% of americans. >> reporter: john boehner dug in. no rate rises on anyone. >> the president's idea of a negotiation is roll over and do what i ask. >> reporter: the opening bid brought the gop leaders by geithner is a nonstarter. >> i was flabbergasted. i looked at him and said, you can't be serious. >> reporter: included in the offer, $1.6 trillion in new revenue, twice what was on the table in last year's failed grand bargain, and $600 billion in spending cuts, much of it from medicare, not nearly good enough,
MSNBC
Dec 3, 2012 7:00am PST
reaches bipartisan compromise. don't send us over the fiscal cliff. do the right thing. be statesmen. reach a compromise. >> politico put some meal suggestions. this gives a perspective. for this food stamp budget you can get one sandwich two two slices of store brand bread. two slices of cheese. that's $1.24. another option is seven ounz frozen fried fish plank. what's your reaction was when you did this from your constituents and what purpose does it serve for somebody like you or cory booker to do this? >> i got a lot of kudos for doing it. i admire mayor booker for taking on this challenge. don't give us too many can you dose. we only did it for a week. there are a lot of false stereotypes about people living in food stamps. that's not fair. that's not my experience. these are hard-working people. they don't want to be on food stamps. they want to get back into a job where they don't have to live on food stamps. any negative stereotypes should be put by the wayside. if you care about people and kids living on food stamps give money to your local food banks so they can supplement
FOX News
Dec 3, 2012 8:00am PST
for a long time we have got leaders that though we can't go over the fiscal cliff and they have to get in a room and start talking. jon: as a watcher of washington, debbie, you've been telling spouses of medical members of congress, don't buy a turkey for instance. >> well, they can buy a ushg it can i but i warned them for weeks do not expect to see your spouses until christmas. i am one who think they will work between christmas and new year's. they do understand how serious this is. that's what they're elect to do, govern, e. jon: matt, what i've seen own sunday shows both sides are hardening. >> i worked for a president who faced challenges when he went into his re-election with hurricane katrina. what can happen at beginning of second term, we saw this with ronald reagan, we've seen it with so many presidents, their second terms seem to be a little bit of disappointment, don't live up to what they accomplish in the first term. one of the problems with president obama he rolled out of this election thinking he won the election, he can can set the terms of conversation. he needs to remember the republicans control the house of representatives. they understand their political fate is tied to working with the presiden
KRON
Dec 3, 2012 7:00am PST
the estimated $19.6 billion spent on hurricane katrina. >> 28 days until the fiscal cliff that will kick in if congress does not act. president obama and republicans seem to be playing a game of political chicken right now. the president's proposal as 1.6 trillion in hired taxers over the next couple of years. he proposes a tax cuts and stimulating spending to stimulate the economy. the two sides may try to come together. waiting for a chance to dry out here. a lot of clouds and traffic. 50 degrees in san francisco and a high in the upper 50s. >> watching flood levels this morning on bay area rivers as many are staying in their banks. we did have some flooding. the napa river reached flood stage yesterday afternoon. mayor to clean up in lafayette with the sinkhole and excavator is on this and not picking up debris. >> we get a dry day today but not for a long >> we should expect them rally later on tomorrow in the evening hours. it will pick up in intensity wednesday morning. tomorrow will be a -- today will be a dry day in the bay area. a cold start to the morning and low '40's for napa fairfield and 50 ou
CSPAN
Dec 3, 2012 5:00pm EST
a difference on january 1st or otherwise, in terms of taxes, politics, the fiscal cliff, john mckinnon, are any of these expiring? as part of our fiscal cliff series, we're looking at the bush tax cuts that are set to expire unless congress acts, and we are looking at spending cuts. our deductions on the chopping block unless congress acts? are they floating through unless they get rid of them? guest: by and large, most of them are permanent features of the tax code. yes, the bush tax cuts include a lot of tax breaks, particularly for the wealthy. the capital gains and dividends what -- rates would go up. there are other breaks for the wealthy that would go away if we go over the cliff. there are also some breaks that would benefit working class americans. the child credit is the biggest example. also, there is relief from what is known as the marriage penalty. this is a quirk in the tax system that causes people to pay what many believe is an unfair break just because they are married. the relief from the marriage penalty would go away and the child credit would go from $1,000 back to $500. that would have a significant impact on just regular working folks. host: jason joins us from rancho cordova, calif.. and republican cal
FOX Business
Dec 2, 2012 10:00pm EST
top newspaper, giving the u.s. a time lashing over the fiscal cliff. the people's daily. did you ever read that one? they blasted our congress threatened to unleash what th called a self-created recession hurt the world economy. the paper went on to school lawmakers here saying that the u.s. should act like a responsible power. oh, boy. of course, china's interest is purely self-interest here. the last thing he needs it needs is a slowdown in consumer spending. after all, where wld the chinese and their economy be if it weren't for america? that's right. a lot more to come during this hour. what this tax fairness mean? i will break down the numbers. folks like warren buffett don't want to talk about this. and aaa and unusual warning about a blend of gasoline. the federal government wants you to start using the gas. to start using the gas. but will it damage your twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the art of your portfolio. find out why 9 out of 10 large professiona
FOX Business
Dec 3, 2012 1:00pm EST
. >> i'm dennis kneale. no progress on the fiscal cliff and no plans to even talk about it. when will the white house and congress get serious about making a deal? tracy: on december 31st. dennis: the president is taking to twitter. we'll the latest all hour. tracy: fears of higher taxes caused tax-free muni bonds to popularity but is it too late to find any bargains? jack hough says no. he tells us where the deals are. dennis: the looming fiscal cliff doesn't seem to stop americans from buying new cars. edmunds analyst jessica caldwell breaks down a surprising strong month for automakers but will it last? tracy: time to check stocks as we do every 15 minutes. we head down to the lauren simonetti on the floor of the new york stock exchange. they are slipping but just off the lows of the day. >> off the lows of the day. but the dow and s&p 500 giving up about a third of a percent each right now. the nasdaq is down three points. off the lows. the low for the dow this session is 12,969. we're a little above it but seems like the market wants to end the day in the red. we got conflicting data. construction spending was f
Current
Dec 3, 2012 6:00am PST
never know. steph excess thoughts. okay. all right. the president on this whole fiscal cliff. >> obama: i don't think it is acceptable for you for a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> stephanie: uh, yeah! let's go to kathy in mobile, alabama. >> mobile. >> caller: actually, it is mobile. i know you're not from the south. something i've heard recently which is totally stupid was someone made the comment that normally we only work 25 years and then we live only 40 years after that. a. >> stephanie: right. >> caller: which is crazy. if you started at 18, you reach retirement at 43 or even if you start working at 35. >> stephanie: this is something grover norquist said yesterday. i'm like who only works 25 years? math is -- that's what the president said. republicans have to stop using political math to say how much they're willing to raise tax rates on the wealthiest 2% and specify the spending cuts. they're the ones that aren't being specific. i'm flabbergasted how few details were in boehner's response. okay. kathy in illinois, you're on "the stephanie mill
FOX News
Dec 3, 2012 1:00pm PST
worried. the so-called fiscal cliff was put in law because it was stuff that would be so unacceptable congress would never let it happen, enormous tax increases, grotesque cuts in spending but here we, it is in the law. congress does nothing which congress is good at doing and go over the cliff and some want to see that happen because then the crisis will generate the kind of bipartisan agreement we need but that is irresponsible. >>neil: it is looking more likely. then who picks up the pieces? >>guest: the country suffers. i don't think anyone gains politically. you know that almost everyone here in both parties will tell you if you talk to them privately, this ends with entitlement reform. not cutting programs like medicare but slowing down the growth in the programs because they are the big drivers of the deficit and raising more out of the revenue, out of the tax system. whether you call iterates or reform over whatever you call it, and each those touches the third rail of the parties, we have to get together and say, basically, we have to do something right for the country. if we had a bipartis
FOX News
Dec 3, 2012 2:00am PST
essence. he fires back at boehner saying there's no reason they should fall off the fiscal cliff adding the only reason why it would happen is if a group of members of congress decide they are going to block an agreement because they want to extend the tax rates for the rich. back to you. >> kelly wright, thank you. it's time for a look at who is talking. another big talker down on capitol hill the september 11th attack on consulate in benghazi. >> we know there was intelligence leading up to the attacks that warned of security risks. diane fine stein is one of the chairs on congress's intelligence committee has been leading the investigation as to what went wrong with libya. now she says it is knotted the intelligence that should be blamed but instead the decision makers. >>> i have reviewed all of the threat warnings by the intelligence community. there were multiple threat warnings well over 200. i have read the priority warnings. i believe the ingenls is good. you can't blame the intelligence. they didn't make the right decision. >> the security warning is what congressman mike rogers is also talking about this morning. there was gross negligence in protecting
KRON
Dec 3, 2012 6:00am PST
. there 28 days into the fiscal cliff. if the combination of automatic tax increases, as spending cuts that will kick in if congress does not act. if president obama and republicans appear to be playing a game of political chicken. if the president put out a proposal for 1.6 trillion and higher taxes over the next 10 years. he is also proposing 600 billion in spending cuts and 200 billion in new spending to stimulate the economy. house speaker and republican leader john bonner says that the president's plan is in serious. treasury secretary tim geithner is criticizing republicans say that they have no plan. as of right now. we are nowhere on the fiscal cliff. >> 3 you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop mother-to-child transmission. our employees and their families are part of the fight. and we're winning. at chevron nigeria, we haven't had a reported case in 12 years. aids is strong. aids is strong. but we are stronger. and aids... ♪ aids is going to lose. aids is going to lose. ♪ woman and forced her to drive several miles or the assault and b
FOX
Dec 3, 2012 7:00am PST
congress is no closer from keeping the country from going over the fiscal cliff. the ball, timothy geithner's comments -- >> i i was -- i was flabbergasted. i said you can't be serious. >> if congress fails to act by the end year, tax rates will go up for everyone and across the board spending tax. >>> a new legislative session will start today. democrat are allowed to raise taxes with little fear of republican opposition. but leaders say they are gonna avoid doing that since voters just passed prop 30. republicans, as well as governor brown, will be watching. >>> this month, the state is going to pay public schools and community colleges, the 1.9 billion it owes them. it is money that should have been paid out for over the summer but it was deferred until january. >> now, thanks to proposition 30, the state won't have to wait until then and then the schools will get another payment. >>> students in five states will be spending more time in school. select schools in colorado, connecticut, massachusetts, new york and tennessee, are scheduled to announce today, they are adding 300 hours of class time to the calendar. officials have not said whether they plan to make the school days locker
CSPAN
Dec 3, 2012 5:00pm EST
the fiscal cliff negotiations. from "washington journal," it is 10 minutes. the >> host: looking at the fiscal cliff we turn our attention to deductions and tax loopholes. some of them are potentially on the chopping block. congress and white house negotiate how to move forward. joining us to talk about this from "the wall street journal" is john mccann in. let's start out with the basics. what are loopholes and deductions? we hear those words a lot, but what are they? >> guest: loopholes are in the eye of the beholder. who pulls our tax breaks of all different sorts and what do you make a particular loophole or not depends on where you said i think. there are lots of loopholes that are deductions are deductions are the ones that most people are most familiar with. the big itemize deductions are things like a home mortgage interest deduction. there is a deduction for state and local taxes is very important. the deduction for charitable contributions is real important. there's all kinds of other breaks that exist in a tax code that people are less familiar with. there were some of those people aren't aware that all that are very big and important. for instance, the health care that most of us get it work represents a
ABC
Dec 3, 2012 7:00am PST
the high stakes stalemate some washington over the fiscal cliff. everyone's taxes go up. massive spending cuts take hold in just 29 days if the white house and congress can't reach a deal. and they are barely talking right now. abc's jon karl has the latest. good morning, jon. >> reporter: good morning, george. with less than a month to go, the two sides are as far apart as they have ever been. overnight, the president released a new campaign-style video aimed squarely at republicans. >> we need to get tax relief to working families. >> reporter: this morning, about the only thing that the two sides agree on is that going over the so-called fiscal cliff would be a big blow to the economy. >> it would be very damaging to average americans. there's no doubt about it. >> going over the cliff will hurt our economy, will hurt our job creation in our country. it's not fair to the american people. >> reporter: without a deal to cut the deficit, almost everybody's income taxes will go up january 1st. it's more than that. there will be automatic cuts to defense, to medicare doctors, to unemployment benefits. and that could mean another recession, but -- >> right no
CBS
Dec 3, 2012 7:00am PST
the fiscal cliff and what it can do in terms of raising taxes on middle class families, even obviously wealthier individuals your concerned about sales? >> this is really an important question because, you know, clearly the actions that congress put in place to deal with the fiscal cliff is very important because if those actions actually took place then it clearly has a big impact on purchase decisions for all of us and clearly would slow down the economy. so we really do need to come together with a joint solution. >> alan mulally, jim farley, thank you. >> lincoln. >> yeah. all right. charlie -- >> very competitive business. >> nasa is an interesting story that we're talking about too this morning. >> what the curiosity recover has found on mars and got a lot of people talking. ne [ male announcer ] this is bob, a regular guy with an irregular heartbeat. the usual, bob? not today. [ male announcer ] bob has afib: atrial fibrillation not caused by a heart valve problem, a condition that puts him at greater risk for a stroke. [ gps ] turn left. i don't think so. [ male announcer ] for years, bob took warfarin, and made a monthly trip to the clinic to get his blood tested. but not anymore. bob's doctor recommended a different opt
CNN
Dec 3, 2012 9:00am PST
president's plan for avoiding the fiscal cliff. >>> if you follow the pope spiritually, you can now do it virtually. and this is very cool. pope benedict xvi's twitter account went live in seven languages today and it's got thousands of followers just within minutes even though the pope hasn't sent out a tweet yet. we're told that is to happen next wednesday. it is a bit, weird, isn't it? you have a twitter account and you to wait a week and a half for the pope to tweet. the pope says he'll kick off the twitter account with a q & a session. >> whenever the vatican does something really big and important, they always do it in multiple languages which is why they're doing this twitter feed in english and german and arabic. what will happen on wednesday is he'll be answering some questions on twitter. one of the reasons they said he wanted to get involved with this social networking site was he wanted to connect with people in social media. and so what better way than to take a few questions, #askpo questions, #askpontifex. >> every tweet will be seen and approved by the pope and it is unlik
FOX Business
Dec 3, 2012 11:00am EST
a month ago before this fiscal cliff deal. dennis kneale is coming up with tracy byrnes. they have a little tea party talk themselves. diane black will join them. lori: trusting car salesman before they trust their congress people. stay with "markets now." ♪ >> announcer: u never know when, but thieves can steal yourdentity and turn your life upside down. >> hi. >> hi. you knowi can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, steang your credit, your money and ruining your reputation. that's why you need lilock to relenessly protect what matters most... [beeping.] helping stop crooks before annow you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how serious identity theft was until i lost mcredit and eventually i lost my home. >> announcer: credit monitoring is not enough, because it tells you after the fact, sometimes as much as 30 days later. with lifelock, as soon as ou network spots a threat to your risk alert, protecting youtive before
CNBC
Dec 3, 2012 6:00pm EST
sports cliff. let's put it that way. it may seem like fiscal fears are subsiding, but you must still be a little cautious. i'm optimistic for legislation if congress doesn't take a vacation, and until compromise is made, i'll try to spot some winners that are bounce-backers, if you stay with us, no vacation, congresspeople and president, until legislation. the new mantra. besides -- rise above. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each mog. 24 hours. zero heartburn. >>> novelty, is overrated. at least when you're managing your own money. you don't need to constantly come up with newed in in fact rather than searching for ne
FOX Business
Dec 3, 2012 3:00pm EST
being with us. the republicans now responding. negotiations well underway to avoid a fiscal cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what is coming next. put that all together and we could certainly be put on the edge of a recession. lori: that manufacturing number coming in the low 50s, singling contraction. is that the first signal that this economy really is in trouble? >> certainly not the first signal. household earnings down. real disposable personal income has not increased since may. we are really looking at an economy that is weak. ooly thing keeping keeping consumer spending going is that households have been prepared to cut back on their savings rate to such a low level that i d
FOX News
Dec 3, 2012 12:00am PST
. campaigning and making speeches about the fiscal cliff. the president never presented a plan until this week . the reception on capitol hill was to say the least chilly. senator mcconle laughed at the proposal when presented to him. joining me is allen west. colonel thank you for being here. [ applause ] what wasyour reaction when you finally saw what the president put on the table? >> i was in complete shock. it has nothing to do with reality. if you look at the president's propose to raise taxs and 50 billion more in stimulus spending and want to extend 99 weekings of unemployment benefits which is it a 30 billion a year . the other thing that troubling is that the president wants his own control of raising the debt ceiling . so i don't think we have a president that is serious about getting the debt under control and deficit and government spending under control especially when you understand that we have ha and post office in trouble. we continue to get closer to the fiscal cliff. i think that the president should take a case study and look at calvin coolige and john f. kennedy
FOX Business
Dec 3, 2012 6:00pm EST
. yet another big corporations rushing to avoid a huge tax bill on the fiscal cliff. oracle said it would pay three of next year's dividends this year. taxes on dividends are set to go from 15% to as much as 43% next year unless congress changes the law. the big winner tonight oracle ceo as the company's largest shareholder you will get nearly $200 million in today's deal and will avoid about 60 million in taxes. he did not vote for today's exhilarated payout. he sure does profit from it. a lot more still to come, including a small business owner who says she feels helpless after superstores and the and the government is doing nothing to help her. the proof is in the pudding. albert done a new report showing a tax hikes on the bridge backfired in britain. we will politicians here techno? stay with us. ♪ gerri: do you remember willie sutton? he was the depression era bank robber who held up about 100 banks over 40 years. when asked why he was famously reported as answering, because that is where the money is. i thought of slick willie today as i was listening to the reporting of the fiscal cliff. the president's point man saying of the weekend shows, higher taxes must be a part of any resolution with republicans, presumably
ABC
Dec 3, 2012 2:00am PST
lawmakers can resolve the impending fiscal cliff. >> this is not a night of politics and policy. but since you asked, yes, we think it will be a wonderful christmas gift to the american people to have a tax cut come january. >> congress must come up with a budget compromise before the end of the year or tax hikes and federal spending cuts will go into affect. pelosi will try to force a house vote to break the deadlock. tonight's annual gala event honored the entertainment great including dustin hoffman, david letterman, led -zeplin and chicago's buddy guy. they received the award for culture and the arts. >>> the" twilight" finale held on to the number one spot foreed earning more than $250 million domestically since it opened. "sky fall" hung on to second place followed by" lincoln," "rise of the guardians" and" life of pi." they should top $10 billion for the year next weekend. and now one last check on the weather with leigh glaser. >> we'll check one more time with live doppler 7hd. mainly clear conditions and no returns being picked up right now. that moisture has moved to the south and to the east of us. a nice break tonight and tomorrow, and then we will see a weaker system bring us more rain as we head into tuesda
FOX News
Dec 2, 2012 5:00pm PST
does best, campaigning, and making speeches about the fiscal cliff despite knowing that deadline was looming, the president never presented a plan until this week and the reception on capitol hill was, to say the least, chilly. senator mcconnell even laughed at the proposal when it was presented to him. joining me now, florida congressman allen west. colonel, thanks so much for being here. >> thanks, thanks for having me, dana. [applause]. >> what was your reaction when you finally saw what the president was putting on the table? >> well, i was in complete shock because it really has nothing to do with reality. when you look at the president's proposal to raise 1.6 trillion in new taxes, he wants 50 billion more in stimulus spending, he continues to want to extend the 99 weeks of unemployment benefits which will be another 30 billion per year and also, the other thing that was very troubling was that the president wants his own control of raising the debt ceiling. so, i don't think we have a president that is serious about getting our debt under control and getting our deficit, w
ABC
Dec 2, 2012 11:00pm PST
can resolve the impending fiscal cliff. >> this is not a night of politics and policy. but since you asked, yes, we think it will be a wonderful christmas gift to the american people to have a tax cut come january. >> congress must come up with a budget compromise before the end of the year or tax hikes and federal spending cuts will go into affect. pelosi will try to force a house vote to break the deadlock. tonight's annual gala event honored the entertainment great including dustin hoffman, david letterman, led -zeplin and chicago's buddy guy. they received the award for culture and the arts. >>> the" twilight" finale held on to the number one spot for the third straight weekend earning more than $250 million domestically since it opened. "sky fall" hung on to second place followed by" lincoln," "rise of the guardians" and" life of pi." they should top $10 billion for the year next weekend. and now one last check on the weather with leigh glaser. >> we'll check one more time with live doppler 7hd. mainly clear conditions and no returns being picked up right now. that moisture has moved to the south and to the east of us. a nice break tonight and tomorrow, and then we will see a weaker system bring us more rai
CBS
Dec 3, 2012 6:00am PST
the new year with $110 billion in spending cuts and a $500 billion tax increase. >> "fiscal cliff," are you tired of it? >> i know. we are tired of it. >>> 6:10 now. a trip goes terribly wrong. how a california magician ended up in the hospital. >> the coast guard loses one of its own. how a smuggling investigation off the coast of santa barbara turned deadly. >> and we have a major recall to tell you about. the fire hazard involving two popular ford cars. we'll tell you about that and more when we come back. ,, ,,,,,,,,,, look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to co
CNBC
Dec 3, 2012 4:00am EST
this week on fiscal cliff negotiations. risk appetite is really be holden to that at the moment. and the reality is we're more likely to see congress delay another week or two before they really get going on the negotiations just before christmas. and so against that kind of backdrop, euro-dollar may struggle to break higher and definitely to break lieuthrough 1.31. >> adam, you're in washington. how do you view fiscal cliff discussions? >> i was pretty optimistic until about three days ago. my sense was republicans had lost enough ground, they wanted to get a new deal before they got weaker. they admitted that there has to be some revenue. meanwhile the obama team led by secretary geithner are comfortable with at least 2:1 what they would call entitlement cuts. so there was a lot of ground for a deal. unfortunately, i think the threats from some democratic leaders that maybe it's okay to go over the fiscal cliff, i'm worried some actually believe that and that's one thing that scares me. i think there's a deal on the table, get a few years deal, it's only if -- obviously the republican caucus could do something stupid, but owes otherwis
CNBC
Dec 3, 2012 2:00pm EST
jobs are at risk if we go over the fiscal cliff. that's according to the center for strategic and budgetary assessments. >> the defense industry is sounding the alarm. dozens of industry leaders are in washington, d.c. taking their case to congress and the president and going over that cliff could be a threat to our national security. let's bring in david hess, president of pratt and whitney. david, how severe is the problem? critics will say that the defense industry has grown pretty much every year for the last 20 years and that we probably spend way too much on defense anyway. >> it's hard to understand that comment. quite honestly what often gets missed in the midst of this debate right now is we're already in the middle of step one of defense budget reductions. we're in the midst of under the budget control act which has already been passed, we're in the midst of a $487 billion defense spending reductions right now. you are seeing that in the headlines and some of the analyses -- >> sorry, david, are those real reductions or are those cuts to projected increases? >> i characterize them as real reductions. you can see that in some of the headlines, unfortunately, we're dealing with across the country with some of the plant closi
MSNBC
Dec 3, 2012 11:00am PST
this fiscal cliff stuff done? i think president obama preparing to answer some tough questions from voters. over the weekend house speaker john boehner said these negotiations are nowhere. jay carney disagrees with that assessment. now phone calls at this point between president obama and congressional leaders, but the white house says the talks will be ongoing over the next several days, tamron. >> thank you. the president's q and a on twitter comes days after republicans flat-out rejected his opening bid in negotiations. house speaker john boehner appeared on one sunday morning talk show to see the president's proposal was not in his opinion a proposal at all. >> i was flabbergasted and said, you can't be serious. i just have never seen anything like it. we have seven weeks between election day and the end of the year, and three of those weeks have been wasted with this nonsense. >> okay. >> treasury secretary tim geithner appeared on five separate sunday morning talk shows. he says it's the gop who have been short on specifics. >> we said how and how much and who should pay. they
CNN
Dec 3, 2012 4:00am PST
the impending fiscal cliff. talks, though, seem to be at a stalemate. yesterday with just 29 days until tax hikes and deep spending cuts kick in. both republicans and the democrats were running to the airwaves to try to explain their positions. here's what they said. >> what we're not going to do is extend those tax cuts with the wealthiest americans. those cost a trillion dollars over ten years and there's no possibility that we're going to find a way to get our fiscal house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> the administration has presented a plan that calls for $1.6 trillion in new tax revenues. $400 billion in cuts to medicare and other entitlements. $50 billion for a new stimulus and congress would have to give up control over raising the debt limit. republicans have indicated that they want to raise revenue by lowe
FOX News
Dec 3, 2012 10:00am PST
the marketplace. you school because her political point of view. but another fiscal cliff was on the horizon, and that is the debt. but they also want to do, timothy geithner said, we are going to take away from congress approval of raising the debt ceiling. we can do it on our own. that is an outrage. congress has the power of the not this president to spend more money we don't have. megyn: even alan colmes was on the programs they shouldn't get congressional approval for that. but where is the republican proposal? they say that they want to close loopholes and get rid of some deductions, but when it comes to big issues, which is paring back spending, what are they proposing? over the weekend, mitch mcconnell, the senate minority leader, he offered a few nuggets and i would like to get your thoughts. he said increase the medicare eligibility age, ask wealthier americans to pay higher medicare premiums. and possibly paring back the cost of living increases, giving to social security beneficiaries. those are three specific so we have heard so far from the gop side. what are your thoughts on that? >> i think that is a good thought. but mitch mcconnell and speaker boehner need to be more specific. that doesn't ad
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